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Cryptography News
Cryptoslate
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Coinbase fights back against BiT Global’s effort to block WBTC delisting
- Coinbase has pushed back against BiT Global's attempt to halt the delisting of wrapped Bitcoin (WBTC).
- Coinbase cites concerns about TRON founder Justin Sun's alleged fraud and market manipulation as well as the lack of transparency regarding WBTC's reserves.
- BiT Global accuses Coinbase of unfairly delisting WBTC and claims it will cause reputational and financial harm.
- Coinbase argues that the delisting decision aligns with its responsibility to protect platform integrity and customer confidence.
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Bitcoinmagazine
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China May Be On the Verge of Ending Its Bitcoin Ban
- China may be on the verge of ending its Bitcoin ban.
- There have been significant global developments in favor of Bitcoin this year.
- China operates in secrecy and prefers to make moves quietly.
- China may unban Bitcoin in the near future to stay competitive in the global race.
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Cryptoslate
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Image Credit: Cryptoslate
Satoshi Action Fund reveals potential executive order draft to establish US Bitcoin Strategic Reserve
- Dennis Porter, founder of the Satoshi Action Fund, has unveiled a draft of an executive order to establish a Strategic Bitcoin Reserve within the Exchange Stabilization Fund (ESF).
- The order allows for an initial allocation of up to 2% of the ESF's total portfolio value for a pilot period of 18 months.
- The draft proposes using BTC in US government custody as the foundation for the reserve, integrating Bitcoin into the ESF, and discontinuing the auction of confiscated Bitcoin held by US authorities.
- The proposal includes oversight mechanisms, regular audits, and a comprehensive report to Congress within 24 months to evaluate alternative frameworks for reserve management.
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Coinjournal
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Image Credit: Coinjournal
Virtuals Protocol token, VIRTUAL, drops 16%: is the bullish momentum over?
- The Virtuals Protocol token, VIRTUAL, has experienced a 16% price drop following a bull rally driven by AI agents’ hype and listings on major exchanges.
- The decline is attributed to profit-taking and an overbought market condition indicated by the RSI.
- This pullback may present a buying opportunity for new investors.
- The drop raises questions about the continuation of the bullish momentum.
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Coinjournal
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Image Credit: Coinjournal
Market volatility rocks Pudgy Penguins’ $1.5B PENGU airdrop on Solana
- Pudgy Penguins' PENGU token experiences extreme price volatility during its airdrop launch.
- PENGU trading volume reaches $90 million within hours, resulting in significant gains and losses for traders.
- Major exchanges list PENGU as NFT prices initially surge, but drop after token claim sell-offs.
- Technical issues and DDoS attacks cause difficulties for claimants during the PENGU token launch.
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Cryptoslate
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Image Credit: Cryptoslate
Bloomberg analysts expects ‘wave of crypto ETFs’ next year but some hurdles remain
- Bloomberg analysts predict a wave of new crypto exchange-traded funds (ETFs) in 2025.
- Bitcoin-Ethereum (ETH) combination products are expected to lead, followed by Litecoin (LTC) and Hedera Hashgraph (HBAR).
- Legal and regulatory obstacles are anticipated to delay ETFs tied to Solana (SOL) and XRP.
- The future of Solana and XRP ETFs remains uncertain due to ongoing regulatory scrutiny and pending lawsuits.
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Bitcoinmagazine
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The Unit Denomination of Bitcoin Does Not Need To Change
- Bitcoiner John Carvalho introduced a new Bitcoin Improvement Proposal (BIP) to redefine the unit denomination of bitcoin.
- The proposal suggests that one bitcoin should be defined as the smallest indivisible unit, eliminating the need for decimal places.
- While some people see this as a solution to the unit bias issue, others believe it would add more confusion.
- The transition to the new unit denomination could potentially slow down adoption and create unnecessary burden.
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Cryptopotato
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Image Credit: Cryptopotato
BONK and WIF Pumping as Bitcoin Nears $110K, STARS Meme Coin Presale Nears $20 Million
- The price of Bitcoin is escalating towards $110,000, and meme coins BONK & WIF have performed positively in 2024.
- WIF has gained 1,557% this year, while BONK has doubled in value, and the market capitalization could soon cross $3 billion.
- Coinbase recently confirmed to bring WIF alongside other popular meme coins to its platform.
- BONK has persistently posted higher highs throughout the year and will likely benefit from BTC's surge to the $100,000 level.
- STARS is a protocol that offers staking for meme coins like PEPE, SHIB, $STARS token reunites all meme coins in the scene.
- $STARS raised nearly $20 million from early investors who participated in the pre-sale.
- The APR for this protocol currently stands at 155%, and once meme coins start producing staking rewards to holders, chances are that $STARS will experience a surge.
- BONK, as per Bluntz’ predictions, may reach new all-time highs after a move to take profits stops.
- CryptoPotato has also published a full disclaimer clarifying that the content is sponsored.
- Investing in cryptocurrencies carries a risk of capital loss, and readers are strongly advised to verify the information and consult a professional before making any decisions.
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Financemagnates
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Image Credit: Financemagnates
French Regulators Target Unregistered Crypto ATMs Ahead of MiCA Implementation Deadline
- French regulators have banned unregistered crypto-asset ATMs operating within the country, targeting businesses that provide illegal digital asset services.
- The crackdown follows concerns about money laundering and illegal crypto-asset services.
- Operators of unregistered crypto-asset ATMs could face up to two years in prison and fines of up to 30,000 euros.
- The crackdown aims to eliminate unauthorized activities and prepare for the implementation of the European MiCA regulation by December 30, 2024.
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Coindoo
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Image Credit: Coindoo
MINGO, Hedera Based Wallet, Sets Sights on the Global Ticketing Industry
- MINGO, a digital wallet built on the Hedera Hashgraph network, introduces an NFT-based Programmable Digital Ticketing (PDT) system to innovate the ticketing industry.
- MINGO's native token $MINGO is set to go live on Coinstore and other exchanges, marking a milestone in driving Web3 adoption.
- Collaborations with industry leaders show MINGO's scalability for large-scale events and enhanced experience for organizers and fans.
- Key features of MINGO Tickets include fraud prevention, anti-scalping measures, additional revenue for event organizers, and seamless delivery for attendees.
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Cryptoslate
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Image Credit: Cryptoslate
Bitwise predicts Ethereum revival in 2025 driven by institutional interest, RWA growth
- Ethereum (ETH) is predicted to experience a revival in 2025, driven by institutional interest and the tokenization of real-world assets (RWAs).
- Recent trends show a reversal of sentiment, with Ethereum ETFs attracting $2 billion in net inflows over the past 10 days.
- The tokenization of RWAs presents a $100 trillion global opportunity, with Ethereum holding 81% of the market.
- Ethereum's dominance is attributed to its reliable and decentralized smart contract platform, along with potential regulatory tailwinds.
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Cryptopotato
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Image Credit: Cryptopotato
Shardeum Launches Final Stage of Incentivized Testnet Ahead of Mainnet Release
- Shardeum, an autoscaling layer-1 blockchain ecosystem, announces the launch of Stage 4 of its Incentivized Testnet (ITN).
- Stage 4 will continue to test for vulnerabilities and network issues, solidifying the network code ahead of Mainnet.
- The previous three stages saw over 17 million transactions, 99k participants, and 22k validators.
- After ITN Stage 4, Shardeum will proceed with a code freeze and announce an upcoming node sale.
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Cryptoticker
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Bitget Token (BGB) Surges to New All-Time High with $4 Price Target in Sight
- Bitget Token (BGB) achieves a new all-time high (ATH) of $3.96 on December 17, 2024.
- BGB's market cap is $5.38 billion with a monthly gain of 178.96%.
- Bullish indicators and market sentiment support a $4 price target.
- Key developments include regulatory licenses, record-breaking trading volume, and new payment integrations.
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Financemagnates
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Image Credit: Financemagnates
Why Is Ripple’s XRP Up? Price Prediction as RLUSD Stablecoin Debuts on Global Exchanges
- Ripple's stablecoin RLUSD is now live on global exchanges, causing a surge in XRP trading volume.
- XRP's 24-hour trading volumes increased by 80% to $18 billion.
- Ripple USD (RLUSD) aims to offer stable, cross-border transactions and is backed by US dollar deposits and government bonds.
- Analysts predict XRP prices could reach $20 in the near term with a market cap of $1 trillion by Q2 2025.
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Cryptoslate
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Image Credit: Cryptoslate
Coinbase ranks fifth globally in exchange revenue, surpassing Nasdaq and CBOE
- Crypto trading is rapidly outpacing traditional finance, with Coinbase leading the charge.
- Coinbase currently ranks fifth globally for exchange revenue, generating $5.75 billion over the past year.
- Coinbase alone accounts for 11% of the global exchange revenue, more than double that of the DEX sector.
- DEXs are growing quickly and now hold a 5% share, surpassing platforms like HKEX and CBOE.
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